Finding Text
2020-007 Special Tests – Disbursements to or on Behalf of Students
FALN Number: 84.268 / 84.063 / 84.007 / 84.379
Program or Cluster Name: Federal Direct Student Loans / Federal Pell Grant Program / Federal Work-Study Program / Federal Supplemental Educational Opportunity Grants / Teacher Education Assistance for College and Higher Education (Student Financial Assistance Cluster)
Agency: U.S. Department of Education
Condition: During our audit procedures, for three of forty students selected for testing, it was noted that refunds of credit balances created by the disbursement of Student Financial Assistance disbursements were not paid to students within fourteen days of the date the credit balance occurred. In addition, it was noted that the College follows the same process for issuing all student refunds, regardless of the Title IV status. An additional nine student refunds were not paid within fourteen days of the date the credit balance occurred.
Status: Student and financial scholarship records could not be provided and as such the correction of the finding could not be verified. See current year finding 2021-002.